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Damon Dash Faces Foreclosure

Dallas Bueller

Dallas Bueller

Rising Star
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Damon Dash Faces Foreclosure

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Another big spender joins the celebrity foreclosure follies. This time it's Roc-A-Fella Records company co-founder Damon Dash and his wife, fashion designer Rachel Roy. The high-profile pair could lose two of their Manhattan apartments. Eastern Savings Bank says the couple owe $7.3 million on the properties and were supposed to make hefty monthly payments of $78,500 but haven't done so since January. Dash has a $100,000 federal tax lien on the properties and reportedly owes the city of New York $2 million in back taxes. Damon Dash is allegedly has a $50 million fortune amassed from his hip-hop empire.

http://www.luxist.com/2008/08/20/damon-dash-faces-foreclosure/
http://www.nypost.com/seven/08202008/news/regionalnews/realty_woe_for_rap_big_125274.htm
 
Didn't he get a billion dollar deal not too long ago?
I knew that was bullshit.

Probably more to this but as usual seems like the case of someone in the limelight spending more than they need to.
 
Damon Dash & Rachel Roy Land $4 Billion Deal To Take Roy Collection Global
Published: Tuesday - June 17, 2008
Words by Allen Starbury

Rachel Roy and Damon Dash
Rachel Roy and Damon Dash (Photo: Getty Images)
Damon Dash, the man who helped Jay-Z take Roc-A-Fella Records from the streets to the corporate level, and his wife Rachel Roy announced Monday (June 16) that they've has formed a $4 billion dollar joint venture Jones Apparel Group to develop, market and license the New York-based fashion brand named after his wife.

"Both Rachel and her clothing appeal to many audiences around the world, making her a widely renowned design talent," said Dash in a statement. "Through this partnership, we will be able to explore new opportunities for Rachel Roy, the brand."

Founded in 2004, by Roy and Dash, the Rachel Roy collection embodies everything for women who embrace fashion and dress, says the company, and also adds that effortless glamour, sophistication with a modern edge.

Via the joint venture, the partners plan to further develop the successful brand through continued global expansion of the wholesale business, introduction of new product categories, and stand-alone retail stores in key U.S. and international locations.

Rachel Roy will continue to lead the design, manufacturing and production of the brand.

At press time, additional terms of the transaction were not disclosed.

The line is currently available in the luxury department and select specialty stores, including Bergdorf Goodman, Neiman Marcus, Nordstrom and Saks, and internationally in countries such as the United Kingdom, Hong Kong, the United Arab Emirates, Kuwait, South Korea, Canada, Turkey and Indonesia.

______________________________________________________________

GTFOH:lol::lol::lol::lol::lol::lol::lol:
 
A lot of bad movie investments, no music, the fashion company was bust, watch company didn't do shit and a ballerific lifestyle. This is all a recipe for disaster, i hope he can pull out of it.
 
i remember seeing him on an interview saying he never wears the same t~shirt, underwear, or socks, more than once,,, oh well,,, that's why i never try to talk shit about what i have,,, it always seems to jinx you
 
gameboy said:
i remember seeing him on an interview saying he never wears the same t~shirt, underwear, or socks, more than once,,, oh well,,, that's why i never try to talk shit about what i have,,, it always seems to jinx you
Click to expand...

:lol::lol:
dyson_washing_machine_jan_04.jpg
 
Last edited:
gameboy said:
i remember seeing him on an interview saying he never wears the same t~shirt, underwear, or socks, more than once,,, oh well,,, that's why i never try to talk shit about what i have,,, it always seems to jinx you
Click to expand...

Yeah... Dame just seems like the type that loves to live above his means. Oh well, it came back to bite him in the ass.
 
Jay-Z is waayyy smarter than Dame Dash, WAYYYy. Look What Jay-Z turned his money into, Jay is still making crazy business deals that actually profit, and he Made 82 Million Last year. Dame Dash Chose to be ****** rich, O well, should've invested properly and got some financial education.

jayz_takeover.jpg
 
curtisbrown said:
Doesnt he still own the masters to "Reasonable Doubt"? He might want to give Jay-Z a call to work out a deal for it...
Click to expand...

NO HE DENIED THAT FROM HOV BUT THEY BELONGED TO ROCAFELLA. RIGHT BEFORE HOV TOOK DEF JAM DAME ROCAFELLA WAS SOLD TO DEF JAM, THEN GIVEN TO HOV IN THE DEAL. THATS WHY DAME IS SO MAD.:lol::lol:

SOMEONE CORRECT ME IF IM WRONG.
 
I.F. UCKEDYABITCH said:
NO HE DENIED THAT FROM HOV BUT THEY BELONGED TO ROCAFELLA. RIGHT BEFORE HOV TOOK DEF JAM DAME ROCAFELLA WAS SOLD TO DEF JAM, THEN GIVEN TO HOV IN THE DEAL. THATS WHY DAME IS SO MAD.:lol::lol:

SOMEONE CORRECT ME IF IM WRONG.
Click to expand...

It wouldn't matter anyway, You don't get royalty checks when your whole discography is upped on message boards...lol

Who still buys shit?
 
I.F. UCKEDYABITCH said:
NO HE DENIED THAT FROM HOV BUT THEY BELONGED TO ROCAFELLA. RIGHT BEFORE HOV TOOK DEF JAM DAME ROCAFELLA WAS SOLD TO DEF JAM, THEN GIVEN TO HOV IN THE DEAL. THATS WHY DAME IS SO MAD.:lol::lol:

SOMEONE CORRECT ME IF IM WRONG.
Click to expand...

Damn... I didn't realize Jay ended up with the masters after all. If that was the case... just damn.

"trying to play checkers with chess playin' Hov"
 
Prime example of glutany. U can't abuse and expect 2 live 4eva. ONE day Up. ONE DAY u DOWN. 360^ OBAMA'09
 

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